Sycamore Networks: From $45 Billion to Zilch

By

Scott Thurm and

Ben Fox Rubin

Updated Feb. 1, 2013 5:38 p.m. ET

There was a time when Sycamore Networks Inc. was the next big thing—a leader in the race to direct digital traffic across the Internet.

This is not that time. On Friday, Sycamore all but went out of business. The Chelmsford, Mass., company said it had completed the sale of its remaining product line and that its shareholders had voted to dissolve the company. Sycamore ended the day with a market value of about $66 million, a humbling...